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PHOTO CAPTION: Tim Draper, cofounder of Draper Fisher Jurvetson venture capital firm.

Tesla Investor Tells Detroit It's Lost Electric Car Race

Tim Draper, co-founder of $6 billion venture capital firm Draper Fisher Jurvetson, says Tesla has the resources to beat the Detroit Three.

Published: 13-Sep-2012

California start-up Tesla Motors claims to be ahead of traditional automakers in the battle for electric-car supremacy, one of the company’s high-profile investors said today in an interview.

But the Palo Alto, Calif.-based company has only sold 100 cars so far this year and has cut in half its production target for the new Model S sports sedan, according to Wunderlich Securities analyst Theodore O'Neill.

Tim Draper, co-founder of $6 billion venture capital firm Draper Fisher Jurvetson, which has backed start-ups like SpaceX and Skype, said Elon Musk’s Tesla has the resources to beat the Detroit Three.

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